Myanmar approves nearly 200 foreign investment projects in FY 2018-19

YANGON, July 14 (Xinhua) — The Myanmar Investment Commission (MIC) has approved 197 foreign investment projects in first nine months of current fiscal year 2018-2019, according to figures from the Directorate of Investment and Company Administration (DICA).

From October 2018 to June 2019, a total of 3.16 billion U.S. dollars worth of investments entered Myanmar from the permitted projects.

During the nine-month period, transport and communications topped the list with over 1.47 billion U.S. dollars’ investments, followed by manufacturing sector with 988.8 million U.S. dollars and other services with 311.9 million U.S. dollars, respectively.

From FY 1988-1989 to June 30 of this FY 2018-19, a total of 1,752 projects were permitted with 80.89 billion U.S. dollars so far.

Oil and Gas, power and manufacturing sectors topped the list with most foreign investments during the period.

Regionally, Yangon region attracts 60 percent of investments from both home and abroad, followed by Mandalay with 30 percent and the rest flows into other regions and states.

Source: Xinhuanet

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